Helping a company give
Many companies want to support their local communities but do not have the time, staff, or expertise to handle the many charitable appeals they receive.
Essex Community Foundation provides the practical support and advice needed to achieve this through a range of services tailored to match corporate aspirations with the needs of local charities and community groups. There are a variety of options from which a company can choose to channel their charitable funds whilst retaining control and staff involvement.
By setting up a fund within the Foundation, the company maintains direct control of where their funds go and receives full recognition for all donations made. Such a relationship takes away the administrative burden of giving and leaves the company confident that donations are applied to best effect. All appeal letters are handled by the Foundation, so your company will never have to say no again; if the appeal does not meet your criteria, the Foundation can look for support from another fund under its management. All applications are assessed, many are visited and all projects put forward for funding have the full approval of the Foundation’s Trustees who are legally responsible for funds held within the Foundation.
There are many options available to a company wishing to use the services of Essex Community Foundation.
Endowed Funds: Endowed funds are permanently invested and the annual income distributed as grants. Our investment consultants take a long-term view, investing to grow the value of our funds over time, thus creating an expanding and sustainable source of funds for grant making in perpetuity. An endowed fund is a permanent testimony to a company’s commitment to the community.
Or:
Flow-through Funds Flow-through funds are distributed as grants within a defined period of time – often annually. A company channels its charitable budget through the Foundation by making an annual donation which is distributed within that year.
The Foundation does levy an annual charge for administering Funds under its management.
Whether an endowed fund or a flow-through fund, there are many different types of fund and many ways of giving.
A Named Fund: If a company wishes to set up a fund in its own name, the Foundation does seek a single donation, or a pledge over time, of at least £25,000. The company decides on the name of the fund which is promoted by the Foundation in line with the company’s wishes.
The company can choose to restrict distribution to a geographical area, or to particular charitable activities and Foundation staff promote and seek applications that meet that criteria.
A Donor Advised Fund: A company may wish its staff to be involved with the distribution of the funds. The Foundation will assess applicants and bring forward a list of potential beneficiaries that meet the criteria set by the company. Final approval rests with your company in the full knowledge that every recommendation has been assessed and approved by our trustees and that grants awarded will be monitored
Gift of Shares: A tax efficient way of giving where the benefit to the charity may be many times more than the cost to the company. Companies can claim a deduction on the gift of shares for Corporation Tax purposes in addition to the relief from Corporation Tax on Capital Gains.
Tax benefits : All cash donations made by companies may be offset against Corporation Tax.
Payroll Giving: Registering a company for Payroll Giving means all employees can donate at maximum tax efficiency to a charity of their choice to which the government makes a further donation. This has been shown to have a very positive effect on employee relations, demonstrating that the company is committed to support its staff and the local community. Payroll Giving, or Give as You Earn, offers a very convenient way for employees to make small contributions on a regular basis which is ideal for those wanting to support small charities in their local community. Donations are taken directly from the source of the donor’s income.
General donations: A company may choose to support the Foundation by giving a general donation. Every donation is publicly recognised and pooled with others to create a discretionary capital fund, the income from which will support local communities for years to come. All donors have the opportunity to attend Foundation events and receive up to date information on local activities.
Membership: Membership of the Foundation is an ideal way to support the Foundation in its work to meet the needs of the local communities throughout Essex. Members have a say in how the Foundation is run, and in turn, the Foundation can promote the charitable policies of the company.
If you would like to discuss any of these options further please call our Development Director, Bob Sherer, on 01245 355947 or contact us.
